The Dynamics of REIT Pricing Efficiency

We study the dynamics of pricing efficiency in the equity REIT market from 1993 to 2014. We measure pricing efficiency at the firm level using variance ratios calculated from quote midpoints in the TAQ database. We find four main results. First, on average, the market is efficient, with variance rat...

Ausführliche Beschreibung

Bibliographische Detailangaben

Veröffentlicht in:	Real estate economics 2018-03, Vol.46 (1), p.251-283
Hauptverfasser:	Aguilar, Mike, Boudry, Walter I., Connolly, Robert A.
Format:	Artikel
Sprache:	eng
Schlagworte:	1993-2014 Efficiency Electronic trading systems Ex dividend Immobilienfonds Informationseffizienz Institutioneller Investor Investment Markets Ownership Preismanagement Pricing REITs Securities markets USA
Online-Zugang:	Volltext
Tags:	Tag hinzufügen Keine Tags, Fügen Sie den ersten Tag hinzu!